Medtronic (NYSE:MDT) is providing additional facts in response to a New York Times report detailing an acquisition by Covidien that allegedly changed the course of a government contract designed to increase ventilator supply, now a major problem amid the coronavirus pandemic. Medtronic bought Covidien for $50 billion in 2015 — years after the events described in the […]
Medtronic’s Covidien to pay $20m to settle ClosureFast kickback allegations
Medtronic‘s (NYSE:MDT) Covidien has agreed to pay approximately $20 million to resolve kickback allegations related to the sale and promotion of its ClosureFast radiofrequency ablation catheters. The Fridley, Minn.-based company agreed to pay approximately $17.5 million to the U.S. to settle alleged violations of the False Claims Act and an additional $1.5 million to California […]
Medtronic touts U.S. results of lung cancer detection trial
Partial results of a huge, real-world study of Medtronic’s (NYSE:MDT) superDimension LungGPS technology found that 65% of patients diagnosed with primary lung cancer (Stages I and II) were at early stages of the disease. Early detection of lung cancer is critical to improving patient outcomes long-term. The results came from a 12-month follow-up of the 1,215-patient […]
Medtronic asks judge to accept its negotiated $17.9m sentence in ev3 case
Medtronic (NYSE:MDT) wants the judge in its off-label marketing case against its neurovascular subsidiary ev3 to accept the sentence that the company and U.S. Justice Department have agreed upon. Medtronic agreed in December 2018 to plead guilty to a misdemeanor charge related to its marketing of the Onyx Liquid Embolic System, pay $17.9 million and adopt new […]
JenaValve names Kilcoyne as CEO | Personnel Moves – January 15, 2019
JenaValve Technology said today that it named former ReVision Optics prez & CEO John Kilcoyne as its new chief executive officer, effective immediately, replacing Dr. Victoria Carr-Brendell, who has taken up an executive leadership position with Sonova Holding AG (SIX:SOON). Prior to his time at ReVision Optics, Kilcoyne served as prez & CEO at Micrus Endovascular where he […]
Motus GI taps Moran as CEO | Personnel Moves – September 25, 2018
Motus GI said today that it named Timothy Moran as its new chief executive officer, effective October 1, replacing former CEO Mark Pomeranz who will assume the role of president and COO. Moran has previously served ConvaTec‘s (LON:CTEC) Americas president and helped lead the company through its initial public offering in 2016. Prior to ConvaTec, Moran spent […]
Medtronic can’t shake shareholder suit over Covidien merger
A Minnesota state court last week gave a group of Medtronic (NYSE:MDT) shareholders another chance at a lawsuit brought over its $50 billion acquisition of Covidien. In early 2015 Medtronic closed the Covidien deal, consummating in the biggest medical device acquisition ever. Shortly after the deal was announced during the summer of 2014, shareholder Lewis Merenstein sued in Minnesota’s […]
Aegea Medical picks up former Cardiokinetix, Concentric Medical CEO Sainz | Personnel Moves – May 14, 2018
Aegea Medical said last week it tapped former Cardiokinetix prez & CEO Maria Sainz as its new president and chief executive officer, effective immediately. Sainz will replace former CEO Don Gurskis, who has held the corner office since 2013. Gurskis will remain on as member of the Redwood City, Calif.-based company’s executive management team. “Maria is […]
Zimmer Biomet picks ex-Covidien exec Lannum for IR chief | Personnel Moves – March 20, 2018
Zimmer Biomet (NYSE:ZBH) said yesterday it tapped former Covidien investor relations head Coleman Lannum as its investor relations senior VP, reporting directly to prez & CEO Bryan Hanson. Lannum has more than 15 years in investor relations, having held positions with Mallinckrodt Pharmaceuticals (NYSE:MNK), Covidien and Tyco Healthcare. During his time with Covidien, Lannum oversaw the company’s initial […]
Appeals court upholds patent ruling for Smith & Nephew
The U.S. Court of Appeals for the Federal Circuit this week upheld a Smith & Nephew (NYSE:SNN) patent in a spat between the company and Hologic (NSDQ:HOLX). The patent relates to endoscope technology used for the removal of uterine tissue, and is owned by both Smith & Nephew and Medtronic (NYSE:MDT) subsidiary Covidien, according to court documents. The […]
Eximis Surgical raises $5m for minimally-invasive tissue removal tool
Eximis Surgical raised $5.1 million as part of a $10.2 million equity round, according to a form filed with the SEC last week. Nearly 30 investors have contributed to the offering, the Colorado-based company reported. Eximis Surgical is developing a surgical tool called XCor, which is designed for minimally-invasive specimen removal in laparoscopic surgery. The company touted […]
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